Jessops promises it will pay rent in full and on time

Jessops, the camera retailer, has confirmed it will pay its rent in full and on time this week.

In a stock exchange announcement today the retailer said: ‘Jessops does not normally comment on press speculation but confirms that its rental commitments due this week will be met.’

In a statement updating the City on its trading it said like for like sales for the eight weeks to 25 January 2009 were up 3.8% and for the 17 weeks ending 25 January 2009 were down 4.1%.

It also said it has ‘good relationships’ with its suppliers and landlords but discussions with its lender HSBC are ongoing.

Retailers are due to pay rent to landlords on 25th March.

Many retailers have over the past year re-negotiated with landlords to pay rent monthly in advance, easing cashflow. But there are many retailers still due to pay rent quarterly in advance which most retailers signed up for when entering into their leases.

Two international retailers have signed for debut Manchester stores with Danish homewares chain Sostrene Grene and American gym franchise Orangetheory Fitness the latest new tenants at Lunar Altrincham’s Stamford Quarter shopping centre